Welltower has agreed to acquire NorthStar Healthcare Income for an enterprise value of roughly $900 million in a move that will expand the company's healthcare portfolio.
The deal, while not closed yet, will give Welltower control of NorthStar's 40 senior housing communities. To boost the performance of the portfolio over the past few years, Kendall Young, CEO and president of NorthStar Healthcare said that the Memphis, Tennessee-based firm has been looking at disposition opportunities.
According to Welltower, it currently manages 430 medical assets, spanning 26 million square feet, across the country.
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